Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Trouble821]

The main advantages of Ethereum over Bitcoin is that people in control are qualified and expected to not screw everything, unlike Core people.

You must be oblivious to the development crisis's and mistakes in Ethereum and the flight of developers from that project.

I think its main advantage could be that the founder of the project is still there and functions as a "natural consensus". Also its good that his identity is known.

Apart from that ETH could get the same problems and civilwars that Bitcoin is experiencing.

Good point.

All this cultist crap around Satoshi is not healthy.

Might be nice to know some lone ranger can't suddenly up and flood the market with bags and bags of coins. IDK. It is a trust machine, after all.

This might hurt.

https://www.reddit.com/r/ethereum/comments/45bhus/so_the_ethereum_foundation_can_now_fund_itself/czwqr30

I don't understand, why would it hurt?

Because the Ethereum foundation has humongous expenses it has to pay each month, and it only has ~$750k in non-ETH assets left to pay them with. After that all it has left is ~1.65 million ETH to pay those expenses with, and if it can now fund itself that could mean dumping those ETH for Bitcoins, then dumping the Bitcoins for fiat.

https://www.reddit.com/r/ethereum/comments/45bhus/so_the_ethereum_foundation_can_now_fund_itself/czwpr04

[–]vbuterinEthereum -- Vitalik Buterin 52 points 11 hours ago

The foundation currently has ~1.65 million ETH, plus ~$750k in non-ETH assets. 1650000 * 6.1 + 750000 = $10,815,000. Based on our current ~$200k/month burn rate, that will last us ~54 months ~= 4.5 years. That said, we are planning some substantial expansions which will increase our expenses but also get casper and other fun stuff out the door much faster, and we are also starting to get interest for corporate sponsorships coming in, which could secure us a more sustainable funding path in the long term.

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[mOgliE]

Because the Ethereum foundation has humongous expenses it has to pay each month, and it only has ~$750k in non-ETH assets left to pay them with. After that all it has left is ~1.65 million ETH to pay those expenses with, and if it can now fund itself that could mean dumping those ETH for Bitcoins, then dumping the Bitcoins for fiat.

https://www.reddit.com/r/ethereum/comments/45bhus/so_the_ethereum_foundation_can_now_fund_itself/czwpr04

[–]vbuterinEthereum -- Vitalik Buterin 52 points 11 hours ago

The foundation currently has ~1.65 million ETH, plus ~$750k in non-ETH assets. 1650000 * 6.1 + 750000 = $10,815,000. Based on our current ~$200k/month burn rate, that will last us ~54 months ~= 4.5 years. That said, we are planning some substantial expansions which will increase our expenses but also get casper and other fun stuff out the door much faster, and we are also starting to get interest for corporate sponsorships coming in, which could secure us a more sustainable funding path in the long term.

And hence the snake beat itself.

The assets will come back to us. As long as Eth can't be exchanged directly for USD, it's not possible for it to take btc over.

[Wandererfromthenorth]

Still moon.
buy.

[xslugx]

Still moon.
buy.

ahahah xD

Well, doing what I can. Can't invest more than what I already have meh!

[ChartBuddy]

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[yugo23]

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OH YEAH!!!

We broke the 380 ceiling for good this time!!!!
I think it's the first time in a few weeks that I see a price really above 380$!

[gentlemand]

As long as Eth can't be exchanged directly for USD, it's not possible for it to take btc over.

You can do EUR on Kraken. And any exchange operator with dollar access and half a brain will find those volumes pretty hard to resist.

[LMGTFY]

As long as Eth can't be exchanged directly for USD, it's not possible for it to take btc over.

You can do EUR on Kraken. And any exchange operator with dollar access and half a brain will find those volumes pretty hard to resist.

Kraken's just started USD as well, though I don't know (don't have an account) whether ETH/USD trading is possible yet.

[gentlemand]

Kraken's just started USD as well, though I don't know (don't have an account) whether ETH/USD trading is possible yet.

I thought they'd always done USD in a limited manner and only in a small number of states, but EUR was their preference. They've made plenty of acquisitions recently so I guess they'll be opening up in a big way soon.

[BlindMayorBitcorn]

http://www.riddellwilliams.com/blog/articles/post/hard-fork-conspiracy-treacherous

The current proposed “hard fork” replacement software seems at first blush to be a reasonable way to solve Bitcoin’s growth issues. However, due to the lack of consensus of applicable Bitcoin network participants, the enactment would create serious legal consequences for the creators of the new replacement software, unless the creators adhere to the rules of MSB registration and compliance.

[LMGTFY]

Kraken's just started USD as well, though I don't know (don't have an account) whether ETH/USD trading is possible yet.

I thought they'd always done USD in a limited manner and only in a small number of states, but EUR was their preference. They've made plenty of acquisitions recently so I guess they'll be opening up in a big way soon.

Ah, my mistake. It sounds like this is the "opening up in a big way" ("Update: Launched in the USA, free USD & CAD deposits"), following the Coinsetter acquisition, but due to a (new?) relationship with SynapsePay.

[bargainbin]

Because the Ethereum foundation has humongous expenses it has to pay each month, and it only has ~$750k in non-ETH assets left to pay them with. After that all it has left is ~1.65 million ETH to pay those expenses with, and if it can now fund itself that could mean dumping those ETH for Bitcoins, then dumping the Bitcoins for fiat.

https://www.reddit.com/r/ethereum/comments/45bhus/so_the_ethereum_foundation_can_now_fund_itself/czwpr04

[–]vbuterinEthereum -- Vitalik Buterin 52 points 11 hours ago

The foundation currently has ~1.65 million ETH, plus ~$750k in non-ETH assets. 1650000 * 6.1 + 750000 = $10,815,000. Based on our current ~$200k/month burn rate, that will last us ~54 months ~= 4.5 years. That said, we are planning some substantial expansions which will increase our expenses but also get casper and other fun stuff out the door much faster, and we are also starting to get interest for corporate sponsorships coming in, which could secure us a more sustainable funding path in the long term.

And hence the snake beat itself.

The assets will come back to us. As long as Eth can't be exchanged directly for USD, it's not possible for it to take btc over.

To divest from [shitcoin_name], wrong way:
 1. Sell all your [shitcoin_name] for BTC.
 2. Hodl BTC.

To divest from [shitcoin_name], RIGHT way:
 1. Sell some of your [shitcoin_name] for BTC.
 2. Sell BTC for USD
 3. Go to (1) until your [shitcoin_name] is gone.
    3a. If you are here, all your [shitcoin_name] and BTC has been turned into sweet sweet USD.
         (This is not a step, merely a debugging message.)
 5. Profit!

[gentlemand]

http://www.riddellwilliams.com/blog/articles/post/hard-fork-conspiracy-treacherous

Who the fuck is this moron? I hope there aren't innocent blockstreamers paying for legal services that don't make one iota of sense.

[bargainbin]

http://www.riddellwilliams.com/blog/articles/post/hard-fork-conspiracy-treacherous

The current proposed “hard fork” replacement software seems at first blush to be a reasonable way to solve Bitcoin’s growth issues. However, due to the lack of consensus of applicable Bitcoin network participants, the enactment would create serious legal consequences for the creators of the new replacement software, unless the creators adhere to the rules of MSB registration and compliance.

"Bitcoin Classic and BitcoinXT (meaning in this case the new resulting currency itself rather than the software) would likely be considered by FinCEN to be a new convertible virtual currency."

Only if thermos runs FinCen, otherwise no.

[sAt0sHiFanClub]

http://www.riddellwilliams.com/blog/articles/post/hard-fork-conspiracy-treacherous

The current proposed “hard fork” replacement software seems at first blush to be a reasonable way to solve Bitcoin’s growth issues. However, due to the lack of consensus of applicable Bitcoin network participants, the enactment would create serious legal consequences for the creators of the new replacement software, unless the creators adhere to the rules of MSB registration and compliance.

Bitcoin will now protect itself by using the LAW!    Decentralised much?  Such anitfragile.

That article is mostly wank.

There are also numerous state statutes prohibiting computer crimes which could be applied to miners who unilaterally convert bitcoin into a new type of virtual currency. Bitcoin users have a business expectation that their Bitcoin transactions will be processed by miners using the established Bitcoin protocol, and miners should be cautious about interfering with this expectation.

If anyone thinks these statements are true wrt bitcoin, then they need to study it again.

[Andre#]

As long as Eth can't be exchanged directly for USD, it's not possible for it to take btc over.

You can do EUR on Kraken. And any exchange operator with dollar access and half a brain will find those volumes pretty hard to resist.

Kraken's just started USD as well, though I don't know (don't have an account) whether ETH/USD trading is possible yet.

It is. Last 24 volumes were:

ETH/XBT: 1,500,000
ETH/EUR: 414,000
ETH/USD: 55,000

[ChartBuddy]

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[BlindMayorBitcorn]

http://www.riddellwilliams.com/blog/articles/post/hard-fork-conspiracy-treacherous

The current proposed “hard fork” replacement software seems at first blush to be a reasonable way to solve Bitcoin’s growth issues. However, due to the lack of consensus of applicable Bitcoin network participants, the enactment would create serious legal consequences for the creators of the new replacement software, unless the creators adhere to the rules of MSB registration and compliance.

Bitcoin will now protect itself by using the LAW!    Decentralised much?  Such anitfragile.

That article is mostly wank.

There are also numerous state statutes prohibiting computer crimes which could be applied to miners who unilaterally convert bitcoin into a new type of virtual currency. Bitcoin users have a business expectation that their Bitcoin transactions will be processed by miners using the established Bitcoin protocol, and miners should be cautious about interfering with this expectation.

If anyone thinks these statements are true wrt bitcoin, then they need to study it again.

That was a gift. I'm surprised you didn't bite.

[BlindMayorBitcorn]

How Can Cryptocurrency and Blockchain Technology Play a Role in Building Social and Solidarity Finance?

[ChartBuddy]

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